Reuters logo
Mount Kellett says concerned about SandRidge Energy allegations
January 17, 2013 / 2:25 PM / 5 years ago

Mount Kellett says concerned about SandRidge Energy allegations

Jan 17 (Reuters) - Investment firm Mount Kellett Capital Management said it was concerned about allegations that SandRidge Energy Inc Chief Executive Tom Ward and a trust purportedly run by his son engaged in “persistent front running of the company.”

Mount Kellett Capital, which holds about 4.5 percent in SandRidge, said in a letter on Thursday it was reviewing allegations by another investor, TPG-Axon, that Ward and his son acquired mineral rights and sold them to SandRidge or other oil and gas companies at a profit.

Hedge fund TPG-Axon Capital and Mount Kellett Capital have been pressing to replace Ward and the board and to put the company up for sale.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below